NGX: Market capitalisation hits N84trn

The Nigerian stock market continued on a bullish trend on Thursday, gaining N406 billion.

Market capitalisation rose by N406 billion or 0.48 per cent, closing at N84.262 trillion when compared to N83.856 trillion recorded on Wednesday.

Similarly, the All-Share Index (ASI) climbed 642.57 points or 0.48 per cent, reaching 133,200 from 132,557.43 recorded earlier.

The upward trend was driven by strong buying interest in medium and large-capitalised stocks, including: Academy Press, FTN Cocoa, RT Briscoe, Guiness Nigeria and 42 others.

Also, the market breadth closed positive with 46 gainers and 33 losers.

Academy Press led the gainers’ chart, climbing by 10 per cent and closing at N8.47 while FTN Cocoa Processors also gained by 10 per cent, settling at N6.60 per share.

Sovereign Trust Insurance increased by 10 per cent, ending the session by N1.43 and RT Briscoe soared by 9.97 per cent, finishing at N3.75 per share.

Also, Guiness Nigeria rose by 9.97 per cent, closing at N106.45 per share.

On the flip side, ABC Transport dropped by 10 per cent, ending the session at N4.59 while John Holt also decreased by 10 per cent, closing at N8.10 per share.

Union Dicon Salt fell by 10 per cent, settling at N9.00 and Industrial and Medical Gases lost by 9.89 per cent, finishing at N38.25 per share.

Similarly, Secure Electronic Technology shed by 9.71 per cent, closing at 93k per share.

A total of 818.39 million shares worth N22.67 billion were exchanged across 22.955 transactions.

This is in contrast to 681.24 million shares worth N17.02 billion that was exchanged across 26,931 transactions earlier on Wednesday.

Transactions in the shares of Ja Paul Gold led the activity chart with 83.79 million shares worth N231.76 million.

United Bank for Africa followed with 73.09 million shares valued at N3.41 billion while Access Corporation transacted 65 million shares worth N1.85 billion.

Consolidated Hallmark Holdings sold 55.71 million shares valued at N169.1 million and Nigerian Breweries traded 41.11 million shares worth N2.97 billion.